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MLT: Mitel Shares Higher on Expansion News

To meet growing demand for communications equipment, Mitel (MLT) said it will invest $13.5 million to expand its Ottawa headquarters and add 400 new engineering jobs to its semiconductor division.

The company, which provides semiconductor and communications systems for voice and data networks, also said it will add a range of high-end design and development skills in a variety of engineering disciplines.

Mitel said will add another 100,000 square feet to its new 650,000 sq. ft. building to house the additional workers. The new facility is expected to be completed within a year, in line with its employee growth targets, it said.

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